Driven Brands Holdings Inc. (NASDAQ:DRVN) Holdings Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 34.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,722 shares of the company’s stock after purchasing an additional 8,909 shares during the quarter. Wells Fargo & Company MN’s holdings in Driven Brands were worth $560,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DRVN. Vanguard Group Inc. raised its position in Driven Brands by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock valued at $92,134,000 after buying an additional 31,431 shares during the period. Emeth Value Capital LLC acquired a new position in shares of Driven Brands in the 4th quarter valued at about $41,452,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Driven Brands by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company’s stock valued at $8,007,000 after purchasing an additional 4,062 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Driven Brands by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock worth $4,108,000 after purchasing an additional 78,252 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Driven Brands by 36.0% during the third quarter. Barclays PLC now owns 205,068 shares of the company’s stock worth $2,928,000 after purchasing an additional 54,277 shares during the period. Hedge funds and other institutional investors own 77.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. BMO Capital Markets upped their target price on Driven Brands from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Piper Sandler lifted their price target on Driven Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on Driven Brands from $14.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Benchmark assumed coverage on shares of Driven Brands in a research report on Friday, April 4th. They set a “buy” rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Driven Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Driven Brands Trading Up 2.3 %

Shares of DRVN stock opened at $17.13 on Friday. Driven Brands Holdings Inc. has a 12 month low of $10.64 and a 12 month high of $18.01. The company has a market cap of $2.81 billion, a PE ratio of 428.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. The company has a quick ratio of 1.72, a current ratio of 1.90 and a debt-to-equity ratio of 2.84. The business’s 50 day moving average is $16.57 and its two-hundred day moving average is $16.19.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, February 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $564.12 million for the quarter, compared to analyst estimates of $572.95 million. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. Driven Brands’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. Equities analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Driven Brands Profile

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.